UNIT4, the global business software group, announced annual results for 2011 which showed increased revenue and the trend towards Software as a Service (SaaS) continuing strongly. The group says that total revenue increased by 8% to €454.7 million but SaaS and subscription revenue grew 45.1%.
FinancialForce.com, UNIT4’s US-based cloud applications company formed with minority investment from salesforce.com, grew strongly in 2011. The annual revenue run rate (including services) was over $9 million by December 2011. The launch of FinancialForce Professional Services Automation (PSA) has added significant value, both in terms of revenue and the strategic direction of the company. Customers are increasingly taking both Accounting and Professional Services Automation (PSA) applications, driving larger average deal sizes. The largest deal secured to date had a total multi-year contract value of almost $1 million. FinancialForce.com has staff in the US, UK and Spain, customers in more than 25 countries, and users in more than 45 countries.
